Posted by JJ-KC on August 11, 2003 at 21:27:13:
To assume an assumable mortgage you still have to qualify for the loan you just keep the same mortgage company.
Assumable Mortgage assumptions? - Posted by NickMD
Posted by NickMD on August 11, 2003 at 16:48:07:
Well, let’s assume that I assume someone else’s assumable mortgage.
What exactly happens, what’s the whole story?
Does the assumed mortgage go on my credit history?
How does the lender screen the new “assumer” of the existing assumable mortgage?
Do they even screen or care?
I don’t understand all this jargon on assumable mortgages.
Please explain in detail